How to set up the ultimate holiday savings plan

These days, a lot of people’s feel more dread about the winter holidays than enthusiasm. That’s because the winter holidays are expensive, and thanks to inflation, more and more people are beginning to wonder how they can afford to buy gifts, decorations and food without burying themselves in debt.

Fortunately, there’s a way to pay for the holiday season without going into debt (or at least reducing how much debt you’ll have). It’s called a holiday savings plan, and once you have one set up, you’ll be amazed at how much it can help you cover holiday costs.

Set a Goal

The first step in any good holiday savings plan is to set a goal. Take some time and figure out how much you’ll want to spend over the holiday season this year. You’ll more than likely want to have money for gifts, but you should also think about how much you’ll want to spend on travelling, food and even decorations. Once you’ve listed your expenses, add them up to get the amount you’ll need to save.

 

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